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And the market cap is over a billion! I wish I could print a billion in monopoly money and exchange it 1:1 for real dollars... https://coinmarketcap.com/curren

by klipt 9y ago

And the market cap is over a billion! I wish I could print a billion in monopoly money and exchange it 1:1 for real dollars... https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/

tome 9y ago
Ah, so we're into fractional reserve territory. Never mind, I hear there are cryptocurrencies that will save us from that.
- klipt 9y ago
  Of course, there's SeriouslyGuysUseThisLimitedCoinOnlyNoOtherCoinsCoin.
jcoffland 9y ago
That is not how market caps work. No one can exchange all the Tethers for the market cap in USD.
- klipt 9y ago
  No, I'm saying the market cap is the number of tethers that tether.to has printed so far.
- ufo 9y ago
  To be fair, no one can exchange Tethers for any amount of USD. Bitfinex and all other Tether-using exchanges only allow people to cash out with Bitcoins. (Instead of the weakness of tethers being reflected in lower prices, it is reflected by inflated the tether-denominated prices for Bitcoin inside Bitfinex)